I would focus upon having a solid Bible teaching and preaching ministry where the focus is upon feeding the flock of God. Take care of what you have and the LORD will add to the Church daily such as should be saved (Acts 2:47).
Oversimplistic? Perhaps, but I truly believe you must prioritize what you have over what you do not have and trust that the LORD desires for the Church to continue on and reach future generations.
I would also say that the older generation may be more of an Acts 2 culture whereas the younger generations are doubtless more of an Acts 17 culture and even more so if you are in a university town. I would therefore get boned up on my apologetics skills and learn how to engage the culture!
I have been in congregations with older adults who talk of nothing aside from the RV they are about purchase and live in full-time. They are all on their way out and have little to nothing invested in the Church. There was really no Church left and although the Pastor and his wife were super sweet, it was obvious to me that they were also looking at all the RV brochures and had little desire to build anything. I was a younger family at the time and looking for a new home after leaving the "Model IFB Church" so yeah, we were looking for all of the "family oriented" stuff ourselves. Had the pastor been a little more enthusiastic about actually building a new Church, I probably would've stuck around to help him out. We ended up going to a more family-oriented Bible Church with a "Rocking Praise Band," AWANAs, a more casual atmosphere, and I went out and bought a Fender Stratocaster (which I still have)!
If the congregation does not have school-age kids, it does not make sense to start an AWANA ministry. If you do not have any reasonably skilled musicians, please DO NOT start a worship team! Just be who and what you are and let the Lord show you the Church he has called you to be! Hopefully this Church of older adults has an earnest desire to build a Church and reach their community. You can begin with this!